Tristar signs $24mn LNG shipping service contract with BP

Tristar signs $24mn LNG shipping service contract with BP
Published: 9 February 2020 - 5:30 a.m.
By: Martin Menachery
Tristar Group has signed a four-year contract with BP to provide liquefied natural gas (LNG) shipping services for a value of $24mn.

The deal with BP, one of Tristar’s long-standing partners, follows the recent addition to the Dubai-based company’s shipping fleet of its first LNG tanker, the Tristar Ruby.

The four-year deal will cover a variety of LNG shipping services comprising trading and delivery capacity worldwide.

The Tristar Ruby, formerly the British Ruby, joins Tristar’s 30-strong fleet of ocean-going tankers. The vessel was built by Hyundai Heavy Industries in 2008 and has a cargo carriage capacity of 155,000 cubic metres. She will be technically managed by Wilhelmsen Ship Management, and commercially operated by Tristar.

Eugene Mayne, group CEO of Tristar, said: “We are pleased to be able to announce the value of our deal with BP, the first as we expand our presence into the LNG shipping market. This represents a strengthening of our relationship with BP, one of our core partners.

Tristar offers end-to-end fuel logistics solutions to blue-chip clients, including international and national oil companies and international NGOs. Its integrated energy logistics platform spans road and maritime transportation, specialised warehousing, fuel farms, commercial aviation refuelling, and remote fuel supply operations.

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